$2.10 EPS Expected for Celanese Co. (NYSE:CE) This Quarter

Wall Street brokerages forecast that Celanese Co. (NYSE:CE) will post earnings of $2.10 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Celanese’s earnings, with the lowest EPS estimate coming in at $1.77 and the highest estimate coming in at $2.28. Celanese reported earnings of $2.38 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.8%. The firm is expected to report its next earnings results after the market closes on Thursday, January 30th.

On average, analysts expect that Celanese will report full-year earnings of $9.64 per share for the current year, with EPS estimates ranging from $9.30 to $9.80. For the next year, analysts anticipate that the company will post earnings of $10.93 per share, with EPS estimates ranging from $10.62 to $11.35. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Celanese.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $2.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.21% and a net margin of 13.85%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted $2.96 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis.

A number of research firms have recently issued reports on CE. Cowen upped their target price on shares of Celanese from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Celanese from $120.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group lowered their price target on shares of Celanese from $142.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Co began coverage on shares of Celanese in a research note on Tuesday, October 15th. They set an “outperform” rating and a $140.00 price objective for the company. Finally, ValuEngine cut shares of Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Celanese has a consensus rating of “Hold” and an average target price of $123.59.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Celanese in the 3rd quarter valued at about $25,000. Synovus Financial Corp increased its holdings in shares of Celanese by 162.1% during the 3rd quarter. Synovus Financial Corp now owns 249 shares of the basic materials company’s stock worth $31,000 after buying an additional 154 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in shares of Celanese by 112.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 480 shares of the basic materials company’s stock worth $52,000 after buying an additional 254 shares during the last quarter. Doyle Wealth Management purchased a new stake in shares of Celanese during the 2nd quarter valued at approximately $53,000. Finally, AdvisorNet Financial Inc raised its position in shares of Celanese by 410.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 510 shares of the basic materials company’s stock valued at $62,000 after buying an additional 410 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

CE stock traded down $0.55 during midday trading on Friday, reaching $117.59. The stock had a trading volume of 1,206,617 shares, compared to its average volume of 823,085. Celanese has a 52-week low of $92.25 and a 52-week high of $128.88. The company has a current ratio of 1.85, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $121.95 and its 200 day simple moving average is $117.92. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.58 and a beta of 1.34.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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Earnings History and Estimates for Celanese (NYSE:CE)

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